BIR Ruling No. 034-82

February 17, 1982 BIR RULING NO. 034-82 222-00 206-81 034-82 Porcelana Mariwasa, Inc. P.O. Box AC-262 Quezon City Attention: Mr . Noboru Kuriyama Treasurer Gentlemen : In reply to your letter dated November 12, 1981 requesting a certification to the effect that you can avail of the incentives granted to you by the Board of Investments in its letter dated November 5, 1981, i.e., the extension of availment of incentives under Section 8(a) and Section 7(d) of R. A. No. 5186 (now Article 46(a) and (b) of P. D. No. 1789) at a rate of one hundred percent (100%) for a period of one (1) full fiscal year effective November 1, 1981, I have the honor to inform you that said extension finds support under Article 7(14) of P. D. No. 1789, otherwise known as "The Omnibus Investments Code", which provides as follows: cdtech "Art. 7. Powers and Duties of the Board . xxx xxx xxx "(14) Extend the period of availment of incentives by any registered enterprise for a period not exceeding five (5) years and/or increase the rate of tax exemption of registered enterprises to not more than 50% of the tax exemption enjoyed prior to the increase . . . ." Consequently, you are exempt from the payment of documentary stamp taxes in all your registered corporate transactions during the period of extension. Very truly yours, RUBEN B. ANCHETA Acting Commissioner